13th May 2016 12:37
LONDON (Alliance News) - Avanti Capital PLC on Friday said mobile messaging provider MBlox Inc has agreed to be acquired for USD117.0 million by CLX Communications.
Under the deal, Avanti Capital has conditionally sold its total investment in MBlox and will get around GBP2.8 million for its holding. Avanti Capital said the carrying value of its MBlox investment at the end of December was GBP3.4 million.
As a result, Avanti Capital will recognise a loss on the disposal of GBP800,000.
Avanti Capital shares were up 38% to 26.30 pence on the news Friday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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